1000 ET - U.S. natural gas futures continue to lose ground with production picking up while storage levels remain in surplus after a solid spring injection season. Prices have been a "no win trade" for bulls with inventories more than 6% above the five-year average and strong wind and solar generation filling the void to meet power demand from heat in the Midwest and the East, Dennis Kissler of BOK Financial says in a note. Still, heavy fund shorts put on in recent sessions leave "a lot of upside room for short-covering that could be triggered if we see the current heat wave stay in place," he adds. Nymex natural gas down is down 3.4% at $3.337/mmBtu. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
July 01, 2025 10:01 ET (14:01 GMT)
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